19 Dec 2024 Global Index Futures - Hang Seng

HONG KONG STOCK INDEX (HSI)

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Hang Seng

The Hang Seng climbed 164 points or 0.9% to end at 19,865 on Wednesday, halting declines from the prior three sessions. This rise was driven by a notable increase in US futures as investors anticipated a 25bps interest rate cut by the Fed later today and their outlook for 2025 reductions.

The index rebounded from its lowest in over a week, amid indications that China will boost fiscal spending in 2025 by raising the budget deficit to 4% of GDP, the highest on record, up from 3% this year.

Meanwhile, Chinese regulators called for state-owned firms to increase market value through measures such as mergers, acquisitions, and stock buy-backs. Additionally, China's central bank vowed zero tolerance towards bond market "misbehaviors" while surveying banks' bond investment activities.

All sectors logged gains, with tech and consumer stocks among the top movers. Notable gainers included Li Auto (5.3%), China Resources Gas Group (4.5%), Geely Auto (4.1%), and Semicon Manufacturing (2.0%).

(News Source: Tradingeconomics)

Plan A: Long if market supported firm above 19,780. Targets are 19,908/20,097. Take reasonable stop loss for each trade. 

Plan B: Short if market resilient to 19,780. Targets are 19,688/19,501. Take reasonable stop loss for each trade. 

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